Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

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  • The market has properly seen through what appears to be a positive earnings report from builder Lennar. The key metric, orders, were poor. Orders were down 12 percent YOY, while the backlog (future orders) were down 12 percent.

  • The rest of the world is down, commodities are down, but U.S. futures are up. Most traders are just shrugging their shoulders and attributing this to end of month trading. Also: Housing? It's not getting better.

  • Stocks drooped late in the day on some of the lightest volume of the year...this is not normally an issue, but there was an unusally large number of Market on Close Sell orders...on a light volume day, that was enough to move stocks down.

  • Nuclear stocks, which saw a brief rally a week and a half ago as it appeared that the nuclear crisis might be manageable, have been sinking for several days again. But there's another reason for the weakness in nuclear stocks, one much more ominous.

  • Energy stocks are again the market leader. The S&P Energy Sector is the first S&P sector to hit a new 52- week high — this, on a day when oil (WTI) is down.

  • Traders certainly believed the $2 billion to $12 billion the Fed has been pumping in every day for months has made some kind of difference. That's why the comment from St. Louis Fed President James Bullard over the weekend got passed around a lot over the weekend...

  • Midday, morning gains in Materials and Energy stocks continue to hold up, but the other market leader — techs — are definitely showing signs of weakness.

  • That's what I'm seeing. Look at the performance of some of the large financials this week, vs.  large commodity and industrial stocks.

  • The good news: both Oracle (ORCL) and Accenture (ACN, the world's biggest consulting firm) are up on strong earnings — ORCL had strong sales, and raised its dividend (to $0.06 from $0.05) while ACN raised its current year forecast. ACN up 8 percent pre-open. The bad news: I'm not sure how representative tech and consulting companies are of the earnings commentary we will be seeing for Q1.

  • Reports that bank analyst Meredith Whitney dropped her Q1 earnings for Morgan Stanley to $0.35 from $0.59 (analyst consensus at $0.61) is having little effect on the stock, and for good reason...

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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